Technology

Ansys and IIT Hyderabad’s iTIC Incubator Join Forces to Empower Tech Startups

• ByStartupStory     |    March 19, 2024

Ansys Software Private Limited (Ansys, NASDAQ: ANSS), a prominent engineering simulation software company, and the Indian Institute of Technology Hyderabad’s iTIC Incubator have announced a strategic collaboration to bolster technology startups in the realm of engineering simulation. This partnership, formalized through a Memorandum of Understanding, aims to combine the strengths of both organizations to support and nurture the growth of startups within India’s entrepreneurial ecosystem.

“Ansys is excited about the collaboration with IIT Hyderabad’s iTIC Incubator, as this partnership emphasizes our unwavering commitment to fostering innovation and empowering technology startups in India. Through this alliance, Ansys is dedicated to providing crucial resources for IITH Startup Companies at a startup price point to catalyze technological advancements and support the vibrant entrepreneurial ecosystem in the country. We look forward to playing a pivotal role in the growth journey of these startups, driving engineering excellence, and contributing to India’s innovation landscape,” said Mike Yeager, Area Vice President of Sales, India and Japan, Ansys.

Under this collaboration, technical mentoring and access to startup resources will be provided to technology startups within the iTIC Incubator premises. The initiative aims to facilitate access to simulation tools, enabling startups to innovate and bring their ideas to fruition.

“I am looking forward to this collaboration with Ansys as it aligns with iTIC Incubator’s mission to incubate and accelerate startups in India. This strategic partnership will undoubtedly propel the innovative journey of our budding entrepreneurs by facilitating access to simulation tools. Ansys’ commitment to providing simulation for IITH Startup Companies resonates with our vision of nurturing startups from ideation to realization. This will contribute towards fostering a thriving technological innovation and growth ecosystem in India,” said Dr. S. Surya Kumar, Vice-President, iTIC Foundation.

iTIC Incubator, operating under the aegis of the Indian Institute of Technology Hyderabad (IITH), provides a nurturing environment for technology entrepreneurs, offering stage-wise intervention for startups to flourish within the deep-tech entrepreneurial ecosystem. The incubator aims to empower entrepreneurs by providing access to premier-quality research and startup ecosystem, fostering innovation, and transforming entrepreneurial ideas into sustainable business ventures.

“Ansys is happy to collaborate with IIT Hyderabad’s iTIC Incubator leveraging the benefits that are part of our Ansys Startups Program. Through this program, we are already working towards making big dreams a reality for early-stage startups with limited funding and resources. Ansys provides full access to Multiphysics simulation software and HPC at affordable prices to facilitate quick and cost-effective engineering projects. The program also provides startups access to Ansys’ broad portfolio of bundled and reasonably priced simulation solutions while considerably cutting down on physical prototype tests, reducing time-to-market for these startups. IITH Startup Companies can also access Ansys Learning Hub, classroom, virtual and self-paced programs designed to improve their technical knowledge,” said Murali Pullela, Sales Director, Ansys.

Ansys’ Startup Program offers early-stage startups access to Multiphysics simulation software and high-performance computing to address engineering challenges efficiently. The program has gained traction globally, with over 2,100 startups from diverse industries benefiting from Ansys solutions since its inception.

About Ansys:

Ansys Software Private Limited is a leading provider of engineering simulation software, enabling innovators across industries to push boundaries and bridge the gap between design and reality. With a mission to power innovation that drives human advancement, Ansys has been at the forefront of predictive simulation for over 50 years.

About iTIC:

iTIC is an incubator under the aegis of the Indian Institute of Technology Hyderabad (IITH), focusing on creating a supportive environment for budding entrepreneurs in technology. As a Not-For-Profit Society, iTIC aims to nurture startups by providing access to premier-quality research and startup ecosystem, facilitating innovation, and fostering sustainable business ventures.

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